Shares of FuelCell Energy Inc (NASDAQ:FCEL) are trading lower today by quite a large margin, as the stock continues to be incredibly volatile. While there has not been any news related to the stock this week, the selloff seems to be due to several factors.
First and foremost is the drop in oil prices of close to 15% over the last 10 days. This has made renewable energy sources seem less urgent to many, both from a consumer, business and investor’s point of view. The second possible cause of today’s decline is that shares may have run up too quickly following last week’s news that FuelCell Energy Inc (NASDAQ:FCEL) had signed a contract to construct the world’s largest fuel cell plant in Beacon Hill, N.C. Shares were up over 20% within a period of a week, and may have gotten a bit ahead of themselves.
The stock is down 7.99% or $0.47 following the news, hitting $5.41 per share. Approximately 741,984 shares traded hands. FCEL shares have declined 59.50% since June 8, 2015 and are currently downtrending. It has underperformed the S&P500 by 52.02%.
The institutional sentiment decreased to 0.94 in Q2 2015. It’s down 0.77, from 1.71 in 2015Q2. The ratio dived, as 13 funds sold all their FuelCell Energy Inc shares they owned while 35 reduced their positions. 11 funds bought stakes while 34 increased their total positions. Institutions now own 73.96 million shares which is 2.71% more than the previous share count of 72.01 million in 2015Q2.
Morgens Waterfall Vintiadis & Co Inc holds 1.28% of its total portfolio in FuelCell Energy Inc, equating to 3.15 million shares. Loeb Partners Corp owns 1.93 million shares representing 0.52% of their total US portfolio. Moreover, Ecofin Ltd has 0.33% of their total portfolio invested in the company, equating to 2.31 million shares. The New York-based Awm Investment Company Inc. has a total of 0.25% of their portfolio invested in the stock. Cna Financial Corp, a Illinois-based fund reported 774,276 shares owned.
FuelCell Energy, Inc. is an integrated fuel cell company. The company has a market cap of $156.66 million. The Firm designs, makes, sells, installs, operates and services ultra-clean, stationary fuel cell power plants for distributed power generation. It currently has negative earnings. It provides turn-key power generation solutions to its customers, including power plant installations, as well as power plant operation and maintenance.